Benchmarks

[rdiam]

When performing statistical analysis, it is useful to have benchmarks for comparison. Consider the following stats:

Currently,

The top public choice wins almost 40% of the time

The top 2 public choices win almost 60% of the time

The top 3 public choices win almost 75% of the time

The top 4 public choices win almost 85% of the time

The top 5 public choices win almost 90% of the time

The Wisdom of Crowds concept is very powerful in finding and ranking win contenders.

Use this type of benchmark when considering your method of contender selection -- i.e., are you better than the collective public? If not, then the edge you think you have might not actually exist.

Richard